Vision to be the most successful and admired life insurance company, which means that we are the most trusted Company, the easiest to deal with, offer the best value for money and set the standards for the industry. “THE MOST OBVIOUS CHOICE FOR ALL”.
#HDFCLIFE has come up with its first integrated report ever for the year 2020-21
Tried to cover some insights from the report in this thread 😊🧵
Report link:
https://t.co/UEwyFs6352
@soicfinance @ishmohit1 @suru27 @aditya_kondawar @dmuthuk @itsTarH @HDFCLIFE
Retweet pls 👍🏼
Vision to be the most successful and admired life insurance company, which means that we are the most trusted Company, the easiest to deal with, offer the best value for money and set the standards for the industry. “THE MOST OBVIOUS CHOICE FOR ALL”.
🖊 Key strengths include customer centric approach, diversified distribution, balanced product portfolio, Robust risk management and digital capabilities.
🖊 20636 employees, 390 branches, 300+ partners and 1lac fin consultants
🖊 4 cr lives insured, new business sum assured 5.76 lac cr, AUM 1.74 lac cr, indian embedded value 26.6 k cr
🖊 See powerful growth drivers in one of largest and under penetrated market like India. Expect Protection and Retiral segments to grow faster than Savings
1/ Financial Capital
2/ Manufactured Capital
3/ Intellectual Capital
4/ Human Capital
5/ Social and Relationship Capital
6/ Natural Capital
🖊 Strategy: 5 pillars of our strategy
95% renewals made digitally
97.62% non investigation claims in 1 day
100% claims intimated via Life Easy settled in 1 day
280+ Robotic Process Automation (RPAs)
🔸Life Insurance industry grew by 7% garnering 2.78 lac crore vs 2.59 lac crore new business premiums.
🔸Private insurers grew by 8% and 20% in individual and group business respectively.
🔸LIC de-grew by 3% in individual and grew by 1% in group business.
🔸Total of 24 pvt players in industry out of which top 10 accounted for 88% share in individual business premiums in 2020-21
15.5% Individual Business
27.6% Group Business
21.5% Total New Business
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Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
I'm increasingly interested in the idea of "personal moats" in the context of careers.
— Erik Torenberg (@eriktorenberg) November 22, 2018
Moats should be:
- Hard to learn and hard to do (but perhaps easier for you)
- Skills that are rare and valuable
- Legible
- Compounding over time
- Unique to your own talents & interests https://t.co/bB3k1YcH5b
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
People talk about \u201cpassive income\u201d a lot but not about \u201cpassive social capital\u201d or \u201cpassive networking\u201d or \u201cpassive knowledge gaining\u201d but that\u2019s what you can architect if you have a thing and it grows over time without intensive constant effort to sustain it
— Andrew Chen (@andrewchen) November 22, 2018
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
Things that look like moats but likely aren\u2019t or may fade:
— Erik Torenberg (@eriktorenberg) November 22, 2018
- Proprietary networks
- Being something other than one of the best at any tournament style-game
- Many "awards"
- Twitter followers or general reach without "respect"
- Anything that depends on information asymmetry https://t.co/abjxesVIh9
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.